North American Carbon Steel Prices – Latest forecasts from MEPS

MEPS STEEL NEWSIn the flat products sector, North American strip mill product prices should be reasonably firm over the next two months. However, we expect Asian imports to be arriving in large quantities before the Winter is out. The North American premium over Asian values is likely to be eroded. We forecast transaction values in North America falling quite quickly through Springtime and into Summer. It is possible that the reductions could be hastened by lower scrap surcharges.We expect prices to stabilise at their reduced levels later in the year. We believe that more discipline will be exerted in the supply situation in Asia as the year progresses. If not, a wave of antidumping cases will be brought – thus forcing the issue.